Are non-fungible token coins a good hedge against the stock market volatility?

【Author】 Kumar, Anoop S.; Rao, Balaga Mohana

【Source】AUSTRALIAN ECONOMIC PAPERS

【影响因子】1.452

【Abstract】We test the hedge property of non-fungible token (NFT) coins against equity market fluctuations and compare it with the hedge property of Bitcoin. We employ daily the returns of Bitcoin; three NFT coins, namely Theta, Enjin Coin and Decentraland, and three equity market indices: S&P 500, NASDAQ and CAC 40, ranging from 18 January 2018 to 12 January 2021. We estimate the hedge effectiveness of the three NFT coins and Bitcoin against stock market fluctuations. Our results suggest that NFT coins are a better hedge against equity market fluctuations than Bitcoin.

【Keywords】bitcoin; COVID-19; hedge; NFT coins

【发表时间】2023 2023 MAY 18

【收录时间】2023-06-01

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-市场分析